Trader Rakes in $46 Million on Hyperliquid Using Bitcoin and Meme Coins

In Brief:

James Wynn made over $46 million in just two months trading Bitcoin and meme coins on decentralized exchange Hyperliquid.

His high-leverage trades, including a 10x long on PEPE and a 40x long on Bitcoin, have led him to the top of Hyperliquid’s leaderboard.

A crypto trader named James Wynn has generated significant buzz after reportedly earning $46 million in profits within just two months of trading on Hyperliquid, a decentralized exchange. Wynn’s impressive gains came through a series of high-leverage trades on Bitcoin and meme coins such as PEPE, TRUMP, and Fartcoin.

Since mid-March, Wynn has used aggressive leverage positions ranging from 5x to 40x. His most lucrative trade involves a 10x long on PEPE, which has yielded an unrealized profit of around $23.8 million. In addition, Wynn holds a 40x long on Bitcoin, which has delivered approximately $5.4 million in paper gains. Other notable trades include a 10x long on TRUMP, netting $5.57 million, and a 5x long on Fartcoin, with profits of $5.15 million.

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Wynn’s performance has not only placed him at the top of Hyperliquid’s trader leaderboard but also earned him recognition in the wider crypto community. In the last 24 hours alone, he reportedly made $11.4 million in profits, further solidifying his place as one of the platform’s most successful traders.

Wynn has also become a vocal supporter of Hyperliquid, criticizing centralized exchanges (CEXs) like Bybit for allegedly manipulating token listings for internal gain. He recently turned down a $1 million monthly offer to trade on Bybit, citing ethical concerns. Instead, he continues to praise Hyperliquid for its decentralized and transparent approach, which allows traders to maintain full control of their funds.

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Despite controversies surrounding Hyperliquid, such as the JELLY meme coin short squeeze, the platform continues to attract experienced traders and whales. Hyperliquid now commands over 60% of the decentralized perpetual market, a sharp increase from 44% at the end of 2024.

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